In this review, I say a few words about the analysis portion of Piketty’s book, but I will focus mostly on its solution portion. In the first section, I go over Piketty’s main argument and make two critical points: there is a lack of consideration for, first, human capital and, second, absolute levels of income and capital per capita. The second section of this essay focuses on the solution portion of the book. I also go over Piketty’s argument (...) and make five more substantial points: I wonder what Piketty means by social justice; I emphasize that raising taxes is desirable; I ask why it is capital that should be taxed, and how feasible a global tax on capital would be; and finally, I claim that the book could provide more guidance in terms of the policies that could be put in place right now. If the global taxation of capital is not politically feasible in the short to medium term, what should be done in the meantime? (shrink)

This article is based upon a lecture delivered at the Jubilee Conference of the Economic History Society at Churchill College, Cambridge, in April 1976. I gratefully acknowledge the discussion of my paper and also wish to thank Professor M.M. Postan and Mr. Clive Trebilcock for reading the manuscript and for their comments. This article draws upon source material collected during two research projects for which thanks are due to the Social Science Research Council for their financial support: the ‘East European (...) Economic History Project’ in which I conducted research with the Investigator Michael C. Kaser at St. Antony's College, Oxford, and my current research on ‘Multinational Companies in Central-East Europe’ at the University of East Anglia, Norwich. Any errors and omissions are my own. (shrink)

At present, high-tech enterprises are mainly organizations engaged in the production, research, and development and service of high-tech products. The current development of high-tech industries in various countries in the world is of great significance to improving social productivity and overall national strength. This article mainly introduces the modeling and analysis of the complex system of human capital accumulation in high-tech enterprises based on big data. This paper proposes a theoretical analysis of corporate human capital data and (...) proposes regression analysis and analytic hierarchy process to calculate and analyze the process of corporate human capital accumulation and collect and analyze the data using questionnaire surveys and other methods. In addition, complex systems were modeled based on big data, and a cloud computing-based human capital big data analysis platform was established. The experimental results show that complex system modeling based on big data has a positive impact on the human capital accumulation of high-tech enterprises. For high-tech companies at different stages of development, the relationship between various types of human capital and corporate performance is inconsistent with the market economy. In contrast, the current salary system of some high-tech companies still has many drawbacks. The cost of using human resources controlled by the wage system accounts for more than 24%. (shrink)

Climate change has caused serious threats to global economic development and human well-being, and green finance is a new way to achieve ecological, economic, and social sustainable development, and it also has important theoretical significance and policy value. This study firstly aims to study the impact of green finance on regional carbon intensity. Then, it aims to determine the moderating effect of capital stock per capita on the relationship between green finance and carbon intensity based on moderating effect model (...) as well as to investigate the threshold effect of capital stock per capita on the relationship between green finance and carbon intensity based on threshold effect model. The main conclusions are as follows: Every 1% increase in green finance will lead to a 2% decrease in carbon intensity, and the inhibition of green finance on carbon intensity is most obvious in northeast and east China. The capital stock per capita has a significant moderating effect, which could enhance the restraining effect of green financial development on carbon intensity, and this moderating effect is most obvious in northeast China. The capital stock per capita has a threshold effect in the process of green finance development to suppress carbon intensity. The higher the capital stock per capita, the stronger the inhibition effect of green finance development on carbon intensity. Therefore, in the process of capital accumulation, attention should be paid to improve the relevant legal system and policy guarantee, optimization of financial structure, and stimulation of the capital allocation effect of green finance. Simultaneously, in order to strengthen the inhibitory effect of green finance on carbon intensity, differentiated green finance development policies should be formulated based on factor endowment structure and comparative advantages of different regions. (shrink)

In the global academic capitalist race, academics, institutions and countries’ symbolic power results from the accumulation of scientific capital. This paper relies on the perspectives of system actors located at the institutional, national and international levels to assess the perceived importance of eight systemic factors in contributing to the comparative advantage of social-democratic regimes, namely Denmark, Finland, Norway and Sweden. A deductive thematic analysis performed on 56 transcripts and a one-way repeated-measure ANOVA performed on 324 questionnaires confirmed the (...) hypotheses regarding the positive influence of academic traditions and internationalization. This study contributes to the development of a varieties of academic capitalism approach to apprehend how political-economies condition higher education systems’ comparative advantage. (shrink)

This paper presents the nonlinear dynamic analysis of energy-based models arisen from the applied systems characterized by the energy transport in the presence of fractional order derivative and time delay. The studied model is the fractional version of Bianca-Ferrara-Dalgaard-Strulik model of economy which is viewed as a transport network for energy in which the law of motion of capital occurs. By considering the time delay as bifurcation parameter, a proof to investigate the existence of Hopf bifurcation and the phase (...) lock solutions using the Poincare-Linstedt and the harmonic balance methods is given. At definite values of time delay, period-doubling bifurcations followed up by the consequences of chaotic states are detected. Simulation results assure that the BFDS model can generate new chaotic attractors beyond half order derivatives through the effect of the time delay on that system. In accordance with the literatures related to the problem of chaos, the concluded results confirm the proposed theorem by El-Borhamy in which the time delay possesses the ability to change the dynamic state of nonlinear systems from regular to chaotic within the fractional order derivative domain. (shrink)

The collection and circulation of data is now a central element of increasingly more sectors of contemporary capitalism. This article analyses data as a form of capital that is distinct from, but has its roots in, economic capital. Data collection is driven by the perpetual cycle of capital accumulation, which in turn drives capital to construct and rely upon a universe in which everything is made of data. The imperative to capture all data, from all (...) sources, by any means possible influences many key decisions about business models, political governance, and technological development. This article argues that many common practices of data accumulation should actually be understood in terms of data extraction, wherein data is taken with little regard for consent and compensation. By understanding data as a form capital, we can better analyse the meaning, practices, and implications of datafication as a political economic regime. (shrink)

Thomas Piketty’s blockbuster Capital in the Twenty-First Century was followed by the publication of Capital and Ideology in early 2020. This paper looks at the differences between the two books, and provides an analysis and a critique of the main advances in the new book. First, Piketty drops r>g as an explanation for rising inequality. Instead, inequality is generated and constrained by economic power supported by an ideology. Second, there is a focus on the political consequences of inequality, (...) including the rise of right-wing populism and the election of people like Donald Trump. Third, there is a new policy proposal-changes in corporate governance that gives labor and government seats on the Board of Directors of public corporations. (shrink)

This essay attempts to elaborate a political theory of capital’s violence. Recent analyses have adopted Karl Marx’s notion of the “primitive accumulation of capital” for investigating the forcible methods by which the conditions of capital accumulation are reproduced in the present. I argue that the current scholarship is limited by a certain functionalism in its theorization of ongoing primitive accumulation. The analytic function accorded to primitive accumulation, I contend, can be better performed by (...) the concepts of “capital-positing violence” and “capital-preserving violence.” In coining these new concepts, I first refine the conceptual core of primitive accumulation as the coercive capitalization of social relations of reproduction, which falls into sharpest relief in the violent history of colonial capitalism. I then elucidate this conceptual core with reference to Carl Schmitt’s account of European colonial expansion and Walter Benjamin’s reflections on law-making and law-preserving violence. The resultant concepts of capital-positing and capital-preserving violence, I conclude, can illuminate both the historical and the quotidian operations of the politico-juridical force that has been constitutive of capitalism down to our present moment. (shrink)

The concepts of habitus and capital are crucial in the research tradition of social and cultural reproduction. This article applies both terms to an analysis of aspects of the life histories of low-income African American men. In exploring how their past experiences relate to their present-day statuses as nonmobile individuals, this article also revisits and redefines the utility of habitus and capital as conceptual devices for the study of social inequality. It expands the empirical terrain covered by the (...) concept of capital to include that which allows low-income individuals to manage their existence in socioeconomically disadvantaged communities while also hindering their mobility in the broader social world. One implication of this approach is an improved cultural analysis of low-income individuals. The improvement lies in that their behavior can be better understood as reflections of their readings of social reality, which are based upon the material and ideational resources that they have accumulated throughout their lives, and not simply as manifestations of flawed value-systems or normative orientations. (shrink)

O'Brien provides a critical assessment of Ernest Mandel's 1975 monograph Late Capitalism. In so doing, he offers a historical narrative that puts into question Mandel's framing of 'waves' of capitalist development as a process of capital accumulation that was dependent upon uneven development in the Third World. O'Brien starts by problematising Mandel's argument that an initial concentration of money, capital and bullion in the hands of Europeans explains combined and uneven development. He goes on to demonstrate that (...) Mandel's notion of imperialism as a necessary conduit for the flow of surplus capital from industrialising Europe does not stand up to the historical evidence. In fact, O'Brien maintains an alternative thesis, namely that these marginalised regions were insuffciently penetrated by European capital. (shrink)

This book documents the growth of unproductive activity in the United States economy since World War II and its relation to the economic surplus, capital accumulation, and economic growth. Unproductive activities broadly consist of those involved in the circulation process, including wholesaling and retailing, banking and financial services, advertising, legal services, business services and many government activities. The results indicate that the level of unproductive activity in the postwar economy has been a significant factor in the slowdown in (...) the rate of capital accumulation, productivity growth and the overall growth rate. Here, the villain is shown to be the gradual but persistent shift of resources to unproductive activities. The consequence has been a reduction in new capital formation and productivity growth and an erosion in the rate of growth in per capita living standards. Moreover, the rise in unproductive activity is itself seen to be rooted in the logic of advanced capitalism. The forces of competition, which in the early stages of capitalism lead to rapid technical change and productivity growth, promote non-productive and even counterproductive activities in its more advanced stages. (shrink)

The growing Chinese middle class and their accumulation of wealth and economic capital have seen an increasing number of Chinese students pursuing their education in the West. Due to this growing number, motivations behind their decision to study abroad warrant scholarly treatment. This article discusses the motives of Chinese middle-class families and their children in seeking studying abroad. The paper reports on a recent study of 166 students on American campuses from 2017 to 2018. It uses Bourdieusian concepts (...) of capital, habitus, and the idea of social mobility and social reproduction, to understand Chinese middle-class families’ strategic decisions around studying overseas in relation to employability, labour market competitiveness, and family support. Studying abroad, therefore, is construed by Chinese middle class families as a way of pursuing and preserving their social status and social mobility. (shrink)

This chapter outlines Marx’s analysis of bourgeois society, the bourgeois form of production, relations of bourgeois production, the mode of production based on capital, and, after 1860, the capitalist mode of production. It starts with the analysis of the value form, its various expressions, its contradictions and crisis-tendencies, and the way in which social forms set the limits to class struggle. Forms and struggles shape the laws of motion of capital accumulation, which, in turn, modify the conjuncture (...) in which forms evolve and struggles occur. The chapter also considers the nature of bourgeois social formations and their implications for economic and political institutions and conflicts. The chapter concludes with reflections on the pursuit of alternatives to capitalist relations that aim to reform capitalism or replace it in the medium- to long-term and the forms of social mobilization required for this. (shrink)

Contemporary general equilibrium theory is characteristically short-run, separated from monetary aspects of the economy, and as such does not deal with long-run problems such as capital accumulation, innovation, and the historical movement of the economy. These phenomena are discussed by growth theory, which assumes a given or shifting production function, and in turn cannot therefore deal with the fundamental problem of growth, namely how the production function is derived. Thus traditional theories have a common weakness in that they (...) divorce real economic growth from the activities of the financial sector. This book provides a much-needed synthesis of growth theory and monetary theory. Professor Morishima draws on the work of Schumpeter, Keynes and the pre-war neoclassical economists to formulate a capital-theoretic general equilibrium theory. (shrink)

This volume looks at how accumulation in postcolonial capitalism blurs the boundaries of space, institutions, forms, financial regimes, labour processes, and economic segments on one hand, and creates zones and corridors on the other. It draws our attention to the peculiar but structurally necessary coexistence of both primitive and virtual modes of accumulation in the postcolony. From these two major inquiries it develops a new understanding of postcolonial capitalism. The case studies from India and Sri Lanka discuss the (...) production of urban spaces of capital extraction, institutionalization of postcolonial finance capital, gendering of work forms, establishment of new forms of labour, formation of and changes in caste and racial identities and networks, and securitization-and thereby confirm that no study of contemporary capitalism is complete without thoroughly addressing the postcolonial condition. By challenging the established dualities between citizenship-based civil society and welfare-based political society, exploring critically the question of colonial and postcolonial difference, and foregrounding the material processes of accumulation against the culturalism of postcolonial studies, this volume redefines postcolonial studies in South Asia and beyond. It is invaluable reading for students and scholars of South Asian studies, sociology, cultural and critical anthropology, critical and praxis studies, and political science. (shrink)

During the last few decades, the concept of primitive accumulation (ursprüngliche Akkumulation) introduced by Karl Marx and expanded by Rosa Luxemburg has been revived and improved. Accordingly, scholars have used this framework not to characterize a past moment in the history of capitalism, but to grasp the continuous process of coupling and uncoupling geographical and social spheres in the capital accumulation in different fields: financialization, the care economy, green grabbing, the sharing economy, real estate bubbles, data mining, (...) etc. Despite the quality and productivity of these debates, they are still focused on authors and phenomena observed in the Global North, ignoring a long tradition of similar discussions developed especially in Latin America. The article seeks to decentre these debates by taking seriously into account approaches which address primitive accumulation from the perspective of (post)colonial and (post)slave societies. It coins the concept entangled accumulation to emphasize the interdependencies between practices of exploitation and expropriation, wage and slave labour, state power and illegal violence, and capitalist and non-capitalist economies, which have shaped capital accumulation throughout history. (shrink)

The « New’imperialism » : Accumulation by Dispossession. It is possible to distinguish throughout the long history of capitalism at a world scale two principal forms of capital accumulation : that based on expanded reproduction, the extraction of surplus-value by means of purely economic constraint, and that based on forms of extra-economic coercion, on violence, predation, expropriation, which illustrates the moment of « primitive accumulation ». This moment, which is characterised as « accumulation by dispossession (...) » is not simply a passing phase of early capitalism, but is rather a permanent modality by which it seeks to resolve its contradictions and to extend its ascendancy over new terrain on a world scale. The current period, marked by neoliberal hegemony, is precisely one in which accumulation by dispossession once again has the upper hand over expanded reproduction, thereby outlining the contours of a « new imperialism », dominated by US power. (shrink)

In this article, I make the case for—and begin the task of—examining the role of nation branding in the philanthropic sector. Using a series of cases drawn from Canadian organized philanthropy, I explore the ideological work that philanthropic nation branding does, as well as the social and political implications of this phenomenon. I bring critical theories of nation and national identity together with Marxian-inspired theories of capitalism—particularly those that foreground the racial and colonial dimensions of capital accumulation—to illuminate (...) the nationally embedded contradictions at the core of organized philanthropy in Canada. Specifically, I focus on how racialized and colonial discourses of the nation are mobilized in philanthropic nation branding in ways that elevate and legitimize organized philanthropy as a contradiction-free mechanism for addressing racial and colonial inequities in Canada. In doing so, philanthropic nation branding obscures the explicitly racial and colonial processes of accumulation that produce the philanthropic wealth powering much of the sector, thereby reinforcing an ahistorical Canadian nation brand. Through this analysis, I illustrate the importance of centering race and national identity in critical work on the political economy of philanthropy, organizational branding, and the ethics of philanthropy as a social policy mechanism in Canada, as well as other national contexts. (shrink)

The study constructs a theoretical model of social capital, farm household financing, and scale operation and their environmental effects, and conducts an empirical test based on data from China Family Panel Studies which is conducted in 2018 using causal mediation analysis. The results showed that farmers who spent more on human interaction have a higher probability of choosing scale operation by renting land, the mechanism of which is that the social capital accumulated by farmers based on human interaction (...) facilitates their access to formal and informal financing, which in turn alleviates the financing constraint of scale operation. In addition, we found that the farmers with low education were more dependent on social capital to obtain informal financing to achieve scale operation. The environmental effects of scale operation found that the farmers significantly reduced the proportion of fertilizer and pesticide use, which could effectively mitigate possible pollution problems caused by excessive fertilizer and pesticide use. These findings confirm that social capital can alleviate the financing constraints of farmers to expand their operation scale through formal and informal financing, which in turn has a positive environmental effect. (shrink)

The process commonly referred to as business-as-usual has given rise to dangerous climate change, but its social history remains strangely unexplored. A key moment in its onset was the transition to steam power as a source of rotary motion in commodity production, in Britain and, first of all, in its cotton industry. This article tries to approach the dynamics of the fossil economy by examining the causes of the transition from water to steam in the British cotton industry in the (...) second quarter of the nineteenth century. Common perceptions of the shift as driven by scarcity are refuted, and it is shown that the choice of steam was motivated by a rather different concern: power over labour. Turning away from standard interpretations of the role of energy in the industrial revolution, this article opens a dialogue with Marx on matters of carbon and outlines a theory of fossil capital, better suited for understanding the drivers of business-as-usual as it continues to this day. (shrink)

Silvia Federici's Caliban and the Witch is a landmark text in Marxist feminism, rethinking capitalism's development from and with the standpoint of women. In this paper, I trace Federici's theory and use of the Marxist concept of primitive accumulation through both Marx and Foucault, the two central interlocutors employed to analyze the perpetuity of violence following the explicit violence of capital's originary privatization. After understanding Federici's reading of the dialectical double helix of violence and compulsion via Marx, and (...) the relation of capital (as Reason and Order) to the body via Foucault, I position Adorno as a backdrop against which to view Federici’s thesis on primitive accumulation. Despite the innumerable theoretical similarities between Adorno and Federici, a close pairing shows what Caliban and the Witch misses in its final pages: a theory of mimesis—mimetic accumulation—that accounts for the dialectic of primitive accumulation's perpetuity. (shrink)

In this study of an economic field and its relationships to a cultural field, we apply Pierre Bourdieu’s central concepts of economic capital, cultural capital, symbolic capital and field, and thus follow in a tradition that at the outset was considered to be post-structuralism, but which by Bourdieu later has been brought into the realm of realism. We have mapped relationships between the actors and thus the field structures that these relationships entail. The fields in which a (...) segment of an art world is operating is represented in multi-dimensional figures which illustrate relationships and bonds between the different categories of organizations. Some of the business actors we have studied are engaging in cultural activities with a great deal of autonomy, others are connected to the cultural field in less active ways. In participating in the cultural field they are in different ways and to different extents accumulating symbolic capital including prestige and honor. The method we have applied is multiple correspondence analysis which was frequently used by Bourdieu. (shrink)

The paper functions as a contribution to feminist analyses that are methodologically based on Rosa Luxemburg’s critique of political economy and her understanding of capital accumulation, but also as a contribution to contemporary social-reproduction theory which aims to integrate Luxemburg’s legacy alongside that of Marx. The essay offers a sketch for a ‘Luxemburgian feminism’ consisting of an overview of Luxemburg’s critique of bourgeois feminism and a preliminary application of Luxemburg’s ‘dialectics of spatiality’ to contemporary social-reproduction theory. With Luxemburg’sThe (...) Accumulation of Capitalin mind and her several essays on the so-called ‘women’s question’, we shall attempt to relate Luxemburg’s explanation of the dynamic link between capitalist and non-capitalist spatialities with the commodification of women’s reproductive labour. (shrink)

Social capital and scaling social impact are two of the most important concepts within social entrepreneurship and social enterprise research. However, what role social capital plays in scaling social impact is less understood and academic literatures on the connection of these two crucial concepts are fragmented and scattered. To fill this research gap, we have conducted a bibliometric review to inform academics and researchers the salient agents in the field and categorize the conceptual structure of the knowledge base. (...) Using science mapping techniques, we have analyzed 1549 relevant documents from SCOPUS that are published between 1986 and 2021. The primary objective of this review is to uncover the size, growth trajectory, and geographic distribution of literatures related to social capital's role in scaling social impact. Additionally, we have also analyzed key publishing journals, authors, and documents to map the intellectual structure and research fronts of the domain. The review shows that there is a reasonable accumulation of scientific knowledge concerning social capital's role in scaling social impact in the last three decades. Another key finding is that, some of the keywords identified within the research fronts are closely aligned with a number of UN-SDG goals. This is the first study to systematically map social capital's role in scaling social impact literature with the help of a science mapping tool called bibliometric analysis. This work provides a clear overview of the evolution of the research field and presents potentially important research gaps that require further attention. (shrink)

Although climate change has become the dominant concern of the twenty-first century, global powers refuse to implement the changes necessary to reverse these trends. Instead, they have neoliberalized nature and climate change politics and discourse, and there are indications of a more virulent strain of capital accumulation on the horizon. Adrian Parr calls attention to the problematic socioeconomic conditions of neoliberal capitalism underpinning the world's environmental challenges, and she argues that, until we grasp the implications of neoliberalism's interference (...) in climate change talks and policy, humanity is on track to an irreversible crisis. Parr not only exposes the global failure to produce equitable political options for environmental regulation, but she also breaks down the dominant political paradigms hindering the discovery of viable alternatives. She highlights the neoliberalization of nature in the development of green technologies, land use, dietary habits, reproductive practices, consumption patterns, design strategies, and media. She dismisses the notion that the free market can solve debilitating environmental degradation and climate change as nothing more than a political ghost emptied of its collective aspirations. Decrying what she perceives as a failure of the human imagination and an impoverishment of political institutions, Parr ruminates on the nature of change and existence in the absence of a future. The sustainability movement, she contends, must engage more aggressively with the logic and cultural manifestations of consumer economics to take hold of a more transformative politics. If the economically powerful continue to monopolize the meaning of environmental change, she warns, new and more promising collective solutions will fail to take root. (shrink)

The relationship between the international mobility of academic researchers and social capital is complex. On the one hand, the literature suggests that social capital facilitates the international mobility of academics which, in turn, promotes the accumulation of international social capital, enhances research productivity, and advances careers. On the other hand, international mobility can isolate researchers from the national social capital in their origin countries. In this paper, I present the results of 42 interviews in Canada (...) and Germany to examine how academics in both countries have experienced the connection between international mobility and social capital. In addition to revealing the complexity of this connection, the results show that social capital facilitates international mobility and that mobility sometimes creates social capital. However, mobility can also lead to the loss of national social capital that negatively affects early-career researchers in particular. (shrink)

The author thematizes the operation of the political market of attention that is propelled by the willingness of citizens to credit populist leaders with their digital political labour. Mutual, nevertheless unequal, exchange of attention leads to the formation of a spiral of attention. Its expansive character is sustained by the strategically subsidized recognition of populist leaders. Accumulated attention, i. e. attention capital, is the resource that is used to maintain populist networked public spheres, while citizens are proletarianized: they are (...) invited to apply their labour power to distributing political ideas but are pevented from evaluating the influence of competing public actors. (shrink)

The ongoing critical redeployment of primitive accumulation proceeds under two premises. First, it is argued that Marx, erroneously, confined primitive accumulation to the earliest history of capit...

This article argues that popular revolution was closely tied to the establishment of capitalism. Contrary to the revisionist George V. Taylor’s view that the Revolution had nothing to do with the advance of capitalism because financial and productive capital were divided from one another, this article contends that the Revolution played a critical role in tying them together. Prior to the Revolution financiers began to make limited investments in wholesale trade, manufacturing and mining. But during the revolutionary crisis the (...) sans-culottes pushed the Jacobins to create a national money and to curb speculation in order to foster production and exchange and reduce unemployment. With speculative activity blocked by popular resistance and state interference, bankers and other capitalists increasingly turned to productive investments and forged a link between financial and productive capital which proved crucial to further capitalist accumulation. (shrink)

Thomas Piketty’s book, Capital in the Twenty-First Century, provides a monumental database for the history of capitalism. But the author’s interpretation of these data is based on an inconsistent theoretical framework that constantly oscillates between two definitions of capital: either capital as accumulated drawing rights on the value created; or capital as a factor of production in the neoclassical tradition. Capital as a social relation is forgotten and the history of capitalism appears as an accounting (...) mechanism. (shrink)

Duncan Foley provides an alternative to Keynesian and 'new classical' macroeconomics, based on the Marxian theory of capital.

The countries of the Gulf Cooperation Council are most typically understood from the perspective of their position as the world’s key oil- and gas-producing states. This essay explores the largely-overlooked processes of class-formation in the GCC, and argues that very profound tendencies of capital-internationalisation are occurring alongside Gulf regional integration. The circuits of capital are increasingly cast at the pan-Gulf scale, and a capitalist class – described as khaleeji-capital – is emerging around the accumulation-opportunities presented within (...) the new regional space. The formation of khaleeji-capital represents the development of a class increasingly aligned with the interests of imperialism and has important ramifications for understanding the region’s political economy. (shrink)

This paper uses Pierre Bourdieu’s field theory to develop tools for analyzing interdisciplinary scientific fields. Interdisciplinary fields are scientific spaces where no single form of scientific capital has a monopoly and therefore multiple forms of scientific capital constitute the structures and stakes of scientific competition. Scientists compete to accumulate and define forms of scientific capital and also to set the rates of exchange between them. The paper illustrates this framework by applying it to the interdisciplinary field of (...) behavior genetics. Most behavior geneticists envision their participation in the field as a means to compete for scientific capital in other fields. However, the scientific capital of behavior genetics has different values for scientists attempting to deploy it in different neighboring fields. These values depend on situations in each field and the ways behavior genetics mediates relationships among them. The pattern of relationships of exchange helps explain the social hierarchy and several features of knowledge production within behavior genetics. (shrink)

Previous research showed that accumulations of capital following stationary interest rates are underestimated by human judges. Hyperbolic discounting was suggested as a descriptive and explanatory model for this phenomenon. First, we investigated judged accumulated capital after a period of annual growth and decline. The degree of underestimation increased with accumulated growth and the results supported hyperbolic discounting as a descriptive model on the group level. However, the hyperbolic model did not apply to the data for one third of (...) the participants. Second, we investigated how investment decisions were related to capital accumulation before the investments and to judgments of the possible outcomes of the future investments. To our surprise, the participants’ judgments of expected future accumulated capital did not add predictive power to predictions based on whether there was growth or decline before the investment decision. Unfortunately this strategy leads to suboptimal investment decisions. (shrink)

This year is the twentieth anniversary of the germinal report ‘Faith in the City’ which first drew attention to the concerns of religious agencies whose remit is to tackle growing multiple deprivation in the UK. Since then, the role of faith‐based organisations (FBOs) as mediators of welfare provision, urban regeneration and community development has attracted little attention from sociologists despite claims that such roles are becoming increasingly important. Successive UK governments have highlighted the potential of religious congregations in enhancing social (...) capital and promoting social cohesion. The seminal work of Greg Smith (University of East London) emphasises this theme while other sociological literature in this area (mainly American, e.g., Putnam) argues that FBOs in the community provide a degree of social support and relationship structures that accumulate as social capital resources. This discussion paper is an attempt to open up the debate on the ways in which FBOs can develop and enhance the social capital value of local community groups. (shrink)